Like many major expenses, college is something parents often wish they had saved more for. A 2026 survey from Edward Jones and Morning Consult found that 59% of adults said they weren’t saving enough for higher education (Edward Jones, 2026).
While budgeting a set amount each year is a smart strategy, it’s not the only way to build your college fund. There may be other opportunities to save more without making major changes.
Look for Opportunity in the Usual Places
When life changes, expenses change too, sometimes for the better. This can create opportunities for you to redirect money toward your college fund.
As an exercise, list the expenses you regularly pay for now that will eventually end. For children, that could include:
- Diapers and formula
- Childcare
- Tutoring
- Orthodontic work
- Summer camp
According to Care.com’s 2026 Cost of Care Report, infant daycare costs an average of $332 per week per child, and 20% of parents spend more than $30,000 per year on childcare (Care.com, 2026).
If your child moves into public elementary school, consider redirecting some or all of your childcare budget toward college savings. That way, you can keep putting that money toward your child while preparing for another large expense.
Family and 529 Gifts
There are plenty of people in our lives who love to dote on our children — and they’re often called Grandma and Grandpa. But even these seasoned pros need gift ideas throughout the year.
Contributing to a child’s 529 account is both a meaningful gift for grandchildren and a big help for their parents. And once more people learn about this opportunity, they may want to contribute too, from aunts and uncles to close family friends.
Most 529 plans allow gift contributions, but don’t limit yourself to just birthdays and holidays. There are many occasions that are perfect for 529 gifts. Here are a few ideas:
School
- Acing a test or school project
- Moving up a reading level
- Making the honor roll
- Marking the first and last day of school
- Celebrating the 100th day of school
Milestones
- Losing a tooth
- Graduating from training wheels to a big-kid bike
- Babysitting a sibling for the first time
- Getting a learner’s permit
The more you save now, the less you’ll have to borrow later. Every dollar counts, so don’t underestimate what even a few extra dollars a month can do for your long-term savings goals.
Sources:
Edward Jones. “Education Savings Confidence Slips as Economic Pressure Mounts,” News Releases, May 11, 2026. https://www.edwardjones.com/us-en/why-edward-jones/news-media/press-releases/529-survey
Brown, M. “2026 Cost of Care Report: How the emotional toll is leading to burnout and identity loss for parents,” Care.com, February 2, 2026. https://www.care.com/c/cost-of-care-report/
